Chinese carmakers see overseas sales double as global chip shortage hits US, European rivals harder

Mainland China’s vehicle manufacturers exported 760,000 units between January and May, up 103 per cent from a year ago

Their performance was buoyed by a strong recovery in production after the Covid-19 pandemic was largely contained

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Cars for export wait to be loaded onto a cargo vessel at a port in Lianyungang, Jiangsu province, China. Photo: Reuters

Published: 6:30pm, 30 Jun 2021Updated: 11:17pm, 30 Jun 2021

Chinese carmakers became beneficiaries of a global shortage of semiconductors, with their outbound shipments more than doubling as American and European rivals fell behind.

Mainland vehicle manufacturers exported 760,000 units between January and May, up 103 per cent from a year ago. Their performance was buoyed by a strong recovery in production arising from successful containment of the Covid-19 pandemic, said Cui Dongshu, secretary general of the China Passenger Car Association (CPCA).

The hefty jump could effectively cushion a decline in vehicle deliveries in the domestic market, he added.

“A lack of automotive chips around the world indeed benefited Chinese companies,” Cui said. “The disease outbreak abroad has yet to be controlled and there remains growth potential for Chinese carmakers to tap.”

China became the lone bright spot in the global economy during the second half of 2020 when other major developed countries halted production to fight the deadly coronavirus.

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